And now, for some wholly unexpected news out of the People’s Socialist Republic of California under the august leadership of Consul Moonbeam:
California State Controller John Chiang has announced that total state revenue for the month of November 2012 fell $806.8 million, or 10.8%, below budget.
Democrats thought they could hammer “the rich” by convincing voters to pass Proposition 30 to create the highest state income tax in the nation. But it now appears that high income earners have already “voted with their feet” by moving themselves and their businesses out of state, resulting in over $1 billion shortfall in corporate and income taxes last month and the beginning of a new financial crisis.
And who could possibly have foreseen that?
It’s almost as if tenants might conceivably move out if their landlords announce that their rent is going to necessarily skyrocket next month! Then, when the collectors arrive next month, they’re left scratching their heads as cobwebs gather in the suddenly empty tenement halls. Utterly BAFFLING, we tell you!
State Controller John Chiang reported:
November’s disappointing revenues stand in stark contrast to recent news that California is leading the nation in job growth,
Are those actual numbers, or are you still reading off the cooked ones that you sent out prior to Brrrarrrghh Hussein BlightBringer’s re-selection? Also, those “new jobs” wouldn’t happen to be predominantly in government services, would they?
has significantly improved its cash liquidity to pay bills,
Not sure that $1,000,000,000 in additional debt speaks very highly of your “cash liquidity”, unless you’re just talking about the increasing amount of worthless paper in circulation.
This serves as a sobering reminder that, while the economy is expanding, it is doing so at a slow and uneven pace that will require the State to exercise care and discipline in how its fiscal affairs are managed in the coming year.
Since cutting spending is clearly off the table, you could always ask the parasite electorate of California to vote to jack up taxes on the people still around to provide them with jobs even further. It worked so well the last time, didn’t it? And the last, and the last, and every single time in all of recorded human history.
But THIS time it will work out, right? And then, then we’ll have the Obamunist Obamutopia of Next Tuesday™, at long last.
Get the fuck out of California, Dear LCs still stuck there. Get out while you still may.